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Charlotte real estate market


Ja  Rhule
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2 hours ago, stirs said:

What effect would the coming interest rate hikes have in the immediate?

I do not see them hiking rates just yet but once fed rates go up, everything goes up.  It will impact the buying craze as some people will stop buying homes and will go with renting instead.

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8 hours ago, LinvilleGorge said:

They won't be able to raise them too aggressively without causing another housing crash. Most people think the market is somewhere between overvalued and wildly overvalued currently. Aggressively raising the rates would throw absolute ice water on the market.

 

which is why you wait and why I asked the question.

 

all of a sudden, many houses will be under water and things will come back into reality, unless the government wants to pay peoples overvalued mortgages

which I would not put past them

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9 hours ago, stirs said:

which is why you wait and why I asked the question.

 

all of a sudden, many houses will be under water and things will come back into reality, unless the government wants to pay peoples overvalued mortgages

which I would not put past them

I dont think houses are going to be under water. Houses are being bought with cash by investors sight unseen.  The market may slow way down and prices may level off but I dont think we see a big reversal.  Especially in Charlotte where so many people are moving. I just visited friends in Salt Lake their house is maybe 1400 square feet,  similar distance to downtown as our rental. The value on their home is 650k, we could probably sell our rental for 210 right now. Charlotte market has plenty more room to run unfortunately.  Especially when most of the people moving here are used to prices like in Salt Lake city 

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  • 3 weeks later...

It's going to be interesting to see what happens with the rental market when evictions start back full force. There's just not enough mortgages in trouble for foreclosures to make a big dent in the market IMO. But if there's all of a sudden lots of vacancies in the rental market with a shortage of well qualified renters, that'll be an interesting scenario. That could drive rent downwards and cool the demand on the real estate market by decreasing demand from landlords or would-be landlords. 

Then again, there's so much big corporate money in play right now I'm not sure that's likely to matter either. There are some big corporate interests with long-term plays to basically try to turn America into a renter society. They don't care if they overpay significantly today. They know they're still going to win big in the long run.

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